Sunday, February 21, 2016 Prepared by the News-Democrat Advertising Department Page 15 Consider These Options When Financing Your New Home Buying your dream home is a big step. There are many programs and loans to choose from. Firstco Mortgage, a local mortgage lender located in O’Fallon, Illinois is an expert in home lending and is ready to assist you. Firstco Mortgage works with their customers to find the lowest rate possible and guide them through the mortgage home buying process. There are many types mortgages and of to consider. Firstco Mortgage offers most traditional mortgage programs such as Conventional, VA and FHA Loans, as well as Guaranteed Rural Housing loans through the USDA, which recently added communities in both Madison and St. Clair counties to the list of eligible areas. One of the newest loan options is Fannie Mae’s HomeReady Mortgage. HomeReady requires a minimal down payment that can include gifted funds, and features more flexibility in underwriting than standard conventional financing. Grants may be used to assist with down payments and closing costs, and Co-Signers may be added to help qualify. In addition, Underwriters may also consider household income from family members, even if they will not be signing on the loan. Firstco Mortgage can also assist with the various programs offered by the Development Authority Illinois Housing (IHDA). Currently in St. Clair County, the 1st Home Illinois program offers a $7,500 grant to First Time Homebuyers for down payment and closing costs, along with a competitive 30-year fixed rate mortgage. There are even exceptions to the First Time Buyer requirement, officers will be happy and other counties in Illinois may be eligible as well. Firstco Mortgage loan to discuss IHDA’s current offerings to determine if they are available to you, and if you would benefit from their programs. In addition to these great home purchase options, Firstco Mortgage offers virtually all types of refinance loans, including Home Improvement loans, Debt Consolidation, HARP loans, and Streamline Refinance options for both FHA and VA loans. As you can see, there are a variety of loan options available and your loan representative can assist in helping decide which is best for you. For more information, call Firstco Mortgage at (618) 624-9800, or go to firstcomortgage.com. Visit fcbbanks.com for the location nearest you! Divisions of First Collinsville Bank NMLS #418466 First County Bank NMLS #420258 618-624-9800 firstcomortgage.com 1505 West Hwy 50 O’Fallon, IL NMLS #276876 Illinois Residential Mortgage Licensee
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